10 Strategies To Cover New Product Development Costs

Startup Professionals Musings

The “valley of death” is a common term in the startup world, referring to the difficulty of covering the negative cash flow in the early stages of a startup, before their new product or service is bringing in revenue from real customers. development costs new venture research valley of death

Kathy Sierra: Building the minimum Badass User, Business of Software. A masterclass in thinking about software product development.

Business of Software Blog

Not only some of the smartest advice anyone has given about how to approach software development, there is also a trick that is guaranteed to make you feel more confident, more powerful and more in control of what you do. So everyone starts out with this some variation of this: we want our product to be desirable. Because the world is full of “Great product; didn’t sell.” And this is true even for companies where the product actually costs a lot of money.

Trending Sources

4 Practical Ways To Improve Your Online Courses And Training

YFS Magazine

Grow Marketing & Sales employee training online courses online learning online training product developmentOnline education comes with many benefits, but one of the greatest objections to e-courses and employee training is "but what about the practical training?".

If You’re Not Selling ‘This’ You’re Leaving Money On The Table

YFS Magazine

Grow Marketing & Sales business ideas consulting product development solopreneur solopreneurshipWhen your 16-year-old son inquires on the availability of an old couch in the basement, you know you’re in trouble.

Lessons Learned: Product development leverage

Startup Lessons Learned

Lessons Learned by Eric Ries Sunday, April 26, 2009 Product development leverage Leverage has once again become a dirty word in the world of finance, and rightly so. But I want to talk about a different kind of leverage, the kind that you can get in product development. Its a force that allows startups to build products at parity with much larger companies - cheaper and much faster. In the end, I believe they co-created our product with us.

Why There Will Never Be Another Red Hat: The Economics of Open Source

Peter Levine

As revenue began to roll into Red Hat, a race began among startups to develop an open source offering for each proprietary software counterpart and then wrap a Red Hat-style service offering around it. Product roadmaps and requirements are often left to a distributed group of developers.

Shifting from a product company to a sales/marketing company

Seth Levine's VC Adventure

Early on in their lives most companies are built around a focus on product. Perhaps a sales person or community manager/user advocate is hired. Sales and usage related goals start to show up more prominently in weekly reports. Startups Product product sales shift sales

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Tech Support *is* sales

A Smart Bear: Startups and Marketing for Geeks

If this is your attitude, your conception of tech support is completely backwards and you're missing out on important channels for marketing, product development, and sales. Tech support is sales. Simple: Our tech support was sales. That's sales.

The Leading Cause of Startup Death – Part 1: The Product.

Steve Blank

This series of posts is a brief explanation of how we’ve evolved from Product Development to Customer Development to the Lean Startup. The Product Development Diagram Emerging early in the twentieth century, this product-centric model described a process that evolved in manufacturing industries. At first glance, the diagram, which illustrates the process of getting a new product into the hands of waiting customers, appears helpful and benign.

Want to Close More Sales? Stop Selling

Inc Startups

Make your customer service reps your sales team, give information away for free, and other counterintuitive sales advice. You know my first response: Without sales I don''t have a business. Does our sales team need training?" but what do I do with my sales team?

Disrupting Proctor & Gamble

Scott Weiss

Proctor & Gamble, the $185 billion market-cap consumer products juggernaut, has a tried and true method for developing new products: extensive consumer research, including surveys and focus groups, product testing, name testing, ad/slogan/copy testing, iterate product design, line up manufacturing capacity and then, finally, concluding with in-store merchandising, final branding and ad buys for launch. So why do thousands of people help Quirky make products?

Not Making Sales? Is Your Product, Sales Team, or Sales Process the Cause?

Small Business Force

Selling, especially for technology products always looks way easier than it actually is. Many entrepreneurs make the mistake of believing that their products are so good, they, literally, sell themselves. They were selling a new product, in a relatively new space, with little training.

Six Ways Retailers Can Perform Spring Cleaning

YoungUpstarts

Let’s examine a few of the ways retailers perform Spring Cleaning, preparing their brands and product lines for the coming weeks and months: 1. Adjust product offerings. In addition to the ads and sales, administrators should also review the products featured on their site.

Jeff Szczepanski- The Developer’s Guide To Running Sales Teams

Business of Software Blog

Jeff ‘Tall Jeff’ Szczepanski from Stack Exchange delivers a talk on his experiences of what happens when you think about and manage sales like you would manage a great development team. I’m actually, as I said a developer by training, an electrical engineer.

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3 Major Product Fails, And How To Avoid Their Mistakes

YoungUpstarts

Green ketchup, bottled water for pets, airport security “action figures”, yogurt shampoo – there have been some pretty epic product failures over the years. However the reality is that a significant majority of products don’t succeed. By Malcolm Stewart, CEO of YouEye.

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Sales Myths - Selling's Easy and My Product's So Good It Sells Itself

Small Business Force

At the end of the day, sales are what makes or breaks a small business. Yet many entrepreneurs, especially those who are the product gurus in their company, never fully grasp either their importance or the process that drives them. Basically, the product practically sells itself.

Lessons Learned: The engineering manager's lament

Startup Lessons Learned

Lessons Learned by Eric Ries Monday, October 20, 2008 The engineering managers lament I was inspired to write The product managers lament while meeting with a startup struggling to figure out what had gone wrong with their product development process. When a process is not working, theres usually somebody who feels the pain most acutely, and in that company it was the product manager. He has a good team, and theyve shipped a working product to many customers.

Three Lessons to Give your People the Power to Create Great Customer Experiences

Inc Startups

Great customer service happens when everyone from the CEO to product development, the sales team and customer service reps understand their purpose in the business.

The Customer Development Manifesto: Reasons for the Revolution.

Steve Blank

After 20 years of working in startups, I decided to take a step back and look at the product development model I had been following and see why it usually failed to provide useful guidance in activities outside the building – sales, marketing and business development. Every startup has some methodology for product development, launch and life-cycle management. So what’s wrong the product development model? release of the product.

Customer Development Manifesto: Market Type (part 4) « Steve Blank

Steve Blank

In future posts I’ll describe how Eric Ries and the Lean Startup concept provided the equivalent model for product development activities inside the building and neatly integrates customer and agile development. The product development model treats all startups like they are in an Existing Market – an established market with known customers. If they had done this, there would have been zero dollars in sales. What’s a “new product&# ?

From Zero to $5 Million Annually

Business of Software Blog

In this guest post Ameet shares with us his story of how he turned his first product based company to a wild success based on what he learned from Business of Software 2011. But it always frustrated me to have exciting software ideas, but not have the software development knowledge to implement them myself… especially as I saw plenty of other people moving ahead with them. It seemed like I was the only person there without a product of their own.

Customer Development Manifesto: The Path of Warriors and Winners.

Steve Blank

This post describes a solution – the Customer Development Model. In future posts I’ll describe how Eric Ries and the Lean Startup concept provide the equivalent model for product development activities inside the building and neatly integrates customer and agile development.

What is innovation?

Startup Musings

Coming up with novel ways to incentivize a sales channel to double their product sell through rate is innovation. entrepreneurship leadership management Product Development Product Management Small business startup execution innovation vision

Getting Your Demos Right

Feld Thoughts

We are lucky to be investors in a bunch of companies creating amazing new products. The demo is iconic and amazing, but it takes too long and is too abstract for their corporate customers buying Oblong’s Mezzanine product. Product demo makerbot mezzanine oblong Sales

Five Rules for Making Products That Sell Themselves

YoungUpstarts

by Dan Adams , president of Advanced Industrial Marketing and author of “ New Product Blueprinting: The Handbook for B2B Organic Growth “ Right now our economy and our nation feel anything but business-friendly. Don’t just identify products that look like yours.

Backwards

OnlyOnce

Most companies start by investing heavily in product, then focus on investing in sales and marketing. Two years ago, one of our major company-wide initiatives/priorities was “Product First.&# This year, we decided that the top priority would be “Product Still First.&# The larger we’ve gotten, the more emphasis we’ve placed on product development in terms of resource allocation and visibility. Backwards.

Startup Idea/Seeking Developers to Bid on a Project

David Teten

I have a great idea for a product. I’m looking for an entrepreneur to start a company to provide this product, or a development shop which wants to bid on this project. I see 2 ways to build this: a) You can start your own company and build this product, and self-fund.

You're Not Ready for a Sales Hire: 4 Reasons

Inc Startups

In general, salespeople stink at product development. They excel at revenue development. If a salesperson feels your product isn't ready to bring to his contacts, she will hold back. Your product is awesome. Your culture can handle an influx of sales energy.

3 Essential Tips for Sales in a SaaS model

Guy Nirpaz

SaaS forever changes how software is developed and delivered to customers. In our discussions with SaaS providers, big and small, we see a growing understanding of the need to define sales strategy and processes while taking into account the full life-cycle of a customer. It’s not about making a sale, it’s about making your customer successful. Opportunities are identified, tracked, and closed by a direct sales force or resellers.

How to build the right management team

Version One Ventures

With that said, here are some general guidelines I have developed over the years for building a management team. Building an efficient engineering organization takes more science than art and adding an experienced VP of Engineering to your team will maximize your chances of being able to execute on product development in the most efficient way. 3 rd and 4 th hire: VP Sales/VP Marketing. 5 th hire: VP Product.

Shifting from a product company to a sales/marketing company

Seth Levine's VC Adventure

Early on in their lives most companies are built around a focus on product. Perhaps a sales person or community manager/user advocate is hired. Sales and usage related goals start to show up more prominently in weekly reports. Startups Product product sales shift sales

Sales Myths - A Good Product Sells Itself and Selling is Easy

Small Business Force

At the end of the day, sales are what makes or breaks a small business. Yet many entrepreneurs, especially those who are the product gurus in their company, never fully grasp either their importance or the process that drives them. Basically, the product practically sells itself.

Book Review: “Disciplined Entrepreneurship” by Bill Aulet of MIT

Startup Musings

The chapters on sales and marketing are particularly valuable to technical founders who haven’t personally seen marketing and sales in action. It doesn’t discuss product roadmap until Step 24 of 24 – which is exactly apropos.

Hello World!

Launching Tech Ventures

Through case studies, LTV explores product development, marketing and business development challenges that confront entrepreneurs as they launch info tech ventures. Is the “product-market fit&# concept useful for entrepreneurs and managers?

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Managing Many Voices Involved with Product Development

Launching Tech Ventures

By Aileen Wu Success product development requires not only blood, sweat and tears, but also a dialogue among colleagues from several different disciplines. For example, sales people, crucial for bringing revenue in the door, live in a unique incentives system of quotas and commissions, but use a variety of work styles to meet their targets. Designers, who invent the look and feel of products, are sometimes fundamentally motivated to push the envelope of convention.

3 Mistakes That Kill Product Sales (Even Before You Start Selling!)

Entrepreneurs-Journey.com by Yaro Starak

How To Create A Product That Sells Part Three. This is the third part in the series on product creation. You can read the previous parts here: Part 1: How To Create A Product That Sells. Part 2: 3 Ways To Make $100,000 Online Selling Your Own Product. This article will discuss the common mistakes that are made with product creation. You also would not be “product focused” but instead focused on “ who ” you are providing a solution for.

Launching Tech Ventures: Yogi Product Development

Launching Tech Ventures

Thursday, May 5, 2011 Yogi Product Development by Justin Hakuta For my final project I worked on developing a prototype for an online yoga community I’m launching. Here are some lessons I learned along the way: Developing a prototype See the future, act in the present.

“What if consumers aren’t looking for a.

Mark Birch

It may not turn companies into lean, mean startup machines of innovation, but it may help with two major pitfalls that plague most new product initiatives. . The first is the lack of custom input early on in the product development cycle.

Product Packaging: The Most Overlooked Detail

Up and Running

Product development budget: check. Product packaging? If you’re like most small businesses, product packaging is often a last minute detail for you, or at least not at the top of your priority list. Here’s what great packaging does for your product and your brand: 1.

YouEarnedIt Gets $6.5 Million in Funding

SiliconHills

The Austin-based startup plans to use the funds to further product development on its software as a service human resources rewards platform, sales and marketing. YouEarnedIt Tuesday announced it has received $6.5 million in funding. Silverton Partners, based in Austin, and IDG Partners, based in San Francisco, led the Series A round. Existing investors include […] The post YouEarnedIt Gets $6.5 Million in Funding appeared first on SiliconHills. Austin